Category: Tax planning

Are you an NRI – owning property in India? Are you worried about reporting the Indian property under FATCA? The FATCA (Foreign Accounts Tax Compliance Act) implementation by the US Federal Government has forced some of the Non-Resident Indians to sell off their properties in India due to the fear of being questionable on disclosing … Continue reading Revealed: Should USA based NRIs need to report Indian property under FATCA?

Selling of a property has never been an easy job. Being an NRI can only mean the trouble is twice the amount. Even if you find the right buyer to seal the deal, the complexities involving the TDS is unappealing. If you don’t follow the procedures of TDS with care, you could end up paying … Continue reading NRI Exclusive!! TDS on NRI Sale of Property- Here’s How to Get Your Nil TDS Certificate and More!!!

The income tax filing season doesn’t usually come alone, it brings along a humongous amount of stress with it. Despite the fact that only less than 3% of India is paying the income tax, the number of ways you can lose your hard earned money in the name of income tax is overwhelming. In this … Continue reading Are You A Salaried Employee? Here’s All Your Income Tax Deductions for the FY 2019-20

Do you have Capital Gains from the sale of properties? If so, do you need to pay a tax of 20% or save Capital Gains tax instead? Or do you think paying tax and investing further will earn you better returns? What do you think which will be the better option for your financial life? … Continue reading How can you save your Capital Gain tax? Should you need to invest in Capital Gain bonds?

In income tax parlance, individuals who are permanent residents of India are known as resident individuals. It is the duty of all such citizens to pay taxes on the income that they earn and file income tax return each year. However, it is the non-residents or those who are not ordinarily resident in India, who … Continue reading What every Non Resident Indian needs to know on their Tax Implications in India

Along with the rest of the country, the salaried class waits for the annual budget to be announced each year. They look up to the government to provide them with higher take home pay by way of increase in tax free income and lowering of tax slabs. They also look for some relief through savings … Continue reading All you wanted to know about Tax Exemption on HRA

The income that NRI earn abroad is not taxable in India. Nevertheless,some NRIs also have an earning in their aborigine country, India in the form of interest from deposits, property rent, etc. This income has a basic limit of exemption, which is Rs2 lakhs. If the NRI earnings from such native sources cross the fixed … Continue reading 5 Things NRIs need to know when filing Income Tax Returns in India

The word ‘tax’ troubles every salaried individual and business person, equally. Nobody likes when a portion of their income gets deducted in the form of tax. Therefore, individuals that fall in the tax bracket, choose certain tax-saving schemes like PPF, Mutual Funds, and tax-saving FDs, life insurance, Mediclaim policy or property investment. The deduction available … Continue reading 5 Mistakes You Should Avoid in Selecting Tax Saving Investments

One of our distinguished Finance Ministers had made this famous statement in one of his speeches, “Even God would not like to pay taxes!” reinforcing the general dislike of tax payers in paying taxes. However, our lawmakers are human, and they understand this general aversion of people to pay taxes. That may be one of … Continue reading How to get exemption from paying Capital Gain Tax?

The Query Mr Chaudhury has just sold his old ancestral house for a lump sum consideration of Rs.20,00,000. He has now set his eyes on a new apartment which is due for possession within the next two years. Mr. Chaudhury is in a dilemma, he is aware that the amount he has received is a … Continue reading What every investor needs to know about Capital Gains Account Scheme